HDFC Q3 net zooms 82% to Rs 649 cr

Housing Development Finance Corporation Ltd (HDFC) on Friday posted an increase of 82.54 per cent in net profit at Rs 648.93 crore (Rs 6.49 billion) for the quarter ended December 31, compared to Rs 355.49 crore (Rs 3.55 billion) for the corresponding period in 2006.

The total income of the company rose by 47.81 per cent at Rs 2154.72 crore (Rs 21.54 billion) for the quarter ended December 31, 2007, the same stood at Rs 1457.73 crore (Rs 14.57 billion) during the year-ago period, HDFC informed the Bombay Stock Exchange.

The board at its meeting held on Friday also accepted the resignation of Vijay Kelkar, a special director with the corporation, and approved the appointment of J J Irani as a

special director. Shares of the bank were trading at Rs 2,818, down 1.11 per cent on the Bombay Stock Exchange in afternoon trade.